Confluence Investment Management LLC Acquires New Holdings in Runway Growth Finance Corp. (NASDAQ:RWAY)

Confluence Investment Management LLC bought a new position in shares of Runway Growth Finance Corp. (NASDAQ:RWAY - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 83,621 shares of the company's stock, valued at approximately $916,000. Confluence Investment Management LLC owned approximately 0.22% of Runway Growth Finance at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. HighTower Advisors LLC lifted its holdings in Runway Growth Finance by 5.8% during the third quarter. HighTower Advisors LLC now owns 1,336,053 shares of the company's stock worth $13,747,000 after acquiring an additional 73,200 shares in the last quarter. MGO One Seven LLC lifted its holdings in shares of Runway Growth Finance by 28.8% during the 2nd quarter. MGO One Seven LLC now owns 469,001 shares of the company's stock valued at $5,515,000 after purchasing an additional 104,822 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Runway Growth Finance in the 3rd quarter valued at approximately $1,770,000. Townsquare Capital LLC grew its position in shares of Runway Growth Finance by 5.2% in the 3rd quarter. Townsquare Capital LLC now owns 58,915 shares of the company's stock valued at $606,000 after purchasing an additional 2,914 shares during the period. Finally, Quantbot Technologies LP increased its stake in Runway Growth Finance by 640.1% during the 3rd quarter. Quantbot Technologies LP now owns 15,593 shares of the company's stock worth $160,000 after purchasing an additional 13,486 shares in the last quarter. 64.61% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company upgraded shares of Runway Growth Finance from an "equal weight" rating to an "overweight" rating and set a $11.00 target price for the company in a report on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $11.96.

Runway Growth Finance Price Performance

NASDAQ RWAY remained flat at $11.10 on Friday. The company's stock had a trading volume of 241,561 shares, compared to its average volume of 268,030. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $414.55 million, a P/E ratio of 10.67 and a beta of 0.60. The stock's fifty day moving average is $10.49 and its two-hundred day moving average is $10.79. Runway Growth Finance Corp. has a 52-week low of $9.87 and a 52-week high of $13.74.

Runway Growth Finance Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 14.41%. The ex-dividend date of this dividend was Monday, November 18th. Runway Growth Finance's dividend payout ratio (DPR) is presently 153.85%.

Runway Growth Finance Company Profile

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.